US E-Bike Market

United States E-Bike Market:

The United States e-bike market size reached US$ 943.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,338.0 Million by 2032, exhibiting a growth rate (CAGR) of 10.3% during 2024-2032. Shifting consumer preferences from gasoline-powered cars to zero-emission vehicles, the increasing government support to promote e-bike adoption, and the rising cost of fuel incentives with lower operating costs are among the key factors driving the market growth.

United States E-Bike Market Analysis:

• Major Market Drivers: Increasing awareness regarding environmental issues, such as air pollution and climate change, is primarily driving the growth of the market. In addition to this, the rising cost of fuel is also augmenting the need for affordable electric modes of transportation, such as e-bikes.
• Key Market Trends: Ongoing advancements in e-bike technology are resulting in improvements in battery life, motor efficiency, and overall performance. This is making e-bikes more appealing and reliable to a broader consumer base, which is positively impacting the United States e-bike market outlook.
• Challenges and Opportunities: The e-bike market presents significant growth opportunities fueled by increasing environmental awareness and urban congestion. However, challenges such as regulatory barriers, infrastructure development, and battery technology limitations require strategic solutions for sustainable expansion. Innovative business models and partnerships with local governments can help overcome these hurdles and drive further adoption.

United States E-Bike Market Trends:

Rising Environmental Consciousness

The rising environmental consciousness among consumers in the United States is significantly impacting the e-bike market. As individuals become more aware of the detrimental effects of traditional fuel-based vehicles on the environment, there has been a growing demand for sustainable transportation alternatives. A typical passenger vehicle emits about 4.6 metric tons of carbon dioxide per year. Passenger cars in the United States produced the equivalent of 370 million metric tons of carbon dioxide in 2022. This represented an increase of 1.3% in comparison to 2021 and 43% when compared to 1990 levels. Furthermore, the government authorities of the US are also taking initiatives to promote the adoption of e-bikes, which is anticipated to propel the United States e-bike market revenue. For instance, in September 2023, Joe Biden’s legislation provided a US$ 4.1 Billion investment in the development of e-bikes, offering a reimbursement of 30% of the price, up to a maximum of US$ 900. In addition to this, local initiatives such as New York’s low-cost E-bike Loan NYC initiative are encouraging the use of e-bikes. 

Continuous Advancements in E-Bike Technology

Continuous advancements in e-bike technology have played a significant role in shaping and influencing the United States e-bike market. These advancements have improved the performance, efficiency, and overall user experience of e-bikes, making them more appealing to a wider consumer base. Moreover, the integration of smart features and connectivity options is another notable advancement. E-bikes now come equipped with features such as integrated displays, GPS navigation, smartphone connectivity, and app-controlled settings. Additionally, various key market players are increasingly investing in launching improved e-bikes. For instance, in October 2023, renowned Japanese motorcycle manufacturer Kawasaki launched the Kawasaki Ninja e-1 and Z e-1 electric bikes in the US. The models had earlier appeared in certification documents revealing some details. Both models are equivalent to 150cc gasoline-powered motorbikes, having similar designs to the Ninja 400 and Z400 ICE motorbikes. Such innovations are anticipated to propel the United States e-bike market demand in the coming years.

Increasing Fuel Costs

The e-bike market is favorably impacted by the elevating levels of urbanization since densely populated countries, like the US, require an efficient means of transportation. E-bikes allow riders to navigate through traffic with ease, often taking shortcuts inaccessible to cars and eliminating the need for time-consuming parking searches. Besides this, increases in gasoline costs, traffic congestion during rush hours, and the health advantages of exercise are driving the adoption of e-bikes in the United States, which is propelling the e-bike market share. For instance, gas prices in the US continue to rise, a trend that is likely to continue into the summer months. As of March 2024, the national average gas price stood at US$ 3.53 per gallon, US$ 0.26 higher than a month ago, according to AAA data. The surging prices of fuel are bolstering the United States e-bike market share.

United States E-Bike Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States e-bike market reports, along with forecasts at the country and regional levels from 2024-2032. Our report has categorized the market based on mode, motor type, battery type, class, design, and application.

Breakup by Mode:

• Throttle
• Pedal Assist
   

Throttle represents the most widely used mode

The report has provided a detailed breakup and analysis of the market based on the mode. This includes throttle and pedal assist. According to the report, throttle represented the largest segment.

As per the United States e-bike market overview, throttle mode has emerged as the dominant force in the United States e-bike market, changing the way consumer experience and utilize electric bicycles. With its user-friendly design and intuitive functionality, throttle mode has gained widespread popularity and captured the attention of riders across the country. Throttle mode allows riders to easily control their speed and acceleration, making it ideal for navigating challenging terrains or congested urban environments. Additionally, this mode provides a sense of autonomy and flexibility, as consumers can choose to engage the motor whenever they desire, providing an added level of comfort and confidence. The simplicity and accessibility of throttle mode have played a significant role in its dominance, capturing a substantial market share, and solidifying its position as the preferred choice for e-bike enthusiasts across the United States.

Breakup by Motor Type:

• Hub Motor
• Mid Drive
• Others
   

Hub motor account for the majority of the market share

A detailed breakup and analysis of the market based on the motor type has also been provided in the report. This includes hub motor, mid drive, and others. According to the United States e-bike market report, hub motor accounted for the largest market share.

The hub motor exhibits the ability to deliver consistent power and torque has made it particularly popular among commuters seeking a reliable mode of transportation. Renowned for its efficiency, reliability, and versatility, the hub motor has captured the attention of riders across the country. With its compact design, the hub motor enables e-bikes to maintain a sleek and traditional appearance, resembling regular bicycles while offering the added benefit of electric assistance.

Breakup by Battery Type:

• Lead Acid
• Lithium Ion
• Nickel-Metal Hydride (NiMH)
• Others
   

Lithium ion holds the largest share in the market

A detailed breakup and analysis of the market based on the battery type has also been provided in the report. This includes lead acid, lithium ion, nickel-metal hydride (NimH), and others. According to the report, lithium ion accounted for the largest market share.

According to the United States e-bike market statistics by IMARC, the lithium-ion battery has emerged as the dominant force in the United States e-bike market, transforming the way electric bicycles are powered and redefining the riding experience. The United States is the largest country market for the lithium-ion battery market in the North America region. The lithium-ion battery market revenue in the United States was valued at US$ 11.2 billion in 2023. It is expected to reach US$ 35 billion by 2028. Renowned for its high energy density, lightweight design, and long lifespan, the lithium-ion battery has captured the attention and trust of riders across the country. By providing a reliable and efficient power source, these batteries have significantly extended the range and performance of e-bikes. With their compact size and reduced weight compared to other battery technologies, lithium-ion batteries have seamlessly integrated into e-bike frames, allowing for a sleek and aesthetically pleasing design.

Breakup by Class:

• Class I
• Class II
• Class III
   

Class I hold the largest share in the market

A detailed breakup and analysis of the market based on the class has also been provided in the report. This includes class I, class II, and class III. According to the report, class I accounted for the largest market share.

Class I models provide electric assistance only while the rider is actively pedaling, without the use of a throttle. This design has gained widespread popularity and acceptance among riders across the country, thereby acting as a growth-inducing factor. Class I e-bikes offer a seamless and natural riding experience, where the electric motor amplifies the rider's pedaling power, providing a boost of speed, and making uphill climbs and longer distances more manageable. 

Besides this, class III e-bikes, also known as speed pedelecs, are a type of electric bicycle that provides pedal assistance up to a maximum speed of 28 miles per hour (45 kilometers per hour). They are also gaining traction since these bikes typically have a more powerful motor and battery compared to Class 1 and Class 2 e-bikes, allowing for higher speeds and quicker acceleration. Various prominent market players are introducing new and improved versions of class III e-bikes, which is projected to augment the United States e-bike market's recent price. For instance, in March 2024, Gazelle, the very popular Dutch bike brand owned by industry giant Pon Holdings, launched its first Class 3 electric bike in the U.S.

Breakup by Design:

• Foldable
• Non-Foldable
   

A detailed breakup and analysis of the market based on the design has also been provided in the report. This includes foldable and non-foldable.

Foldable e-bikes cater to the needs of urban commuters who value portability and convenience. In crowded cities with limited parking space, the ability to fold and store an e-bike easily is a major advantage. Additionally, foldable e-bikes occupy less space when stored compared to traditional e-bikes.

On the other hand, non-foldable e-bikes often prioritize performance and stability. They typically have larger frames, larger wheels, and a longer wheelbase, which contributes to a more comfortable and stable riding experience. This design is preferred by riders who prioritize speed, long-distance commuting, or off-road capabilities.

Breakup by Application:

• Mountain/Trekking Bikes
• City/Urban
• Cargo
• Others
   

City/ urban application holds the largest share in the market

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes mountain/trekking bikes, city/urban, cargo, and others. According to the report, city/urban accounted for the largest market share.

Urban e-bikes have emerged as the dominant force in the United States e-bike market, revolutionizing the way users navigate and commute within cities. These are designed specifically for urban environments, where they have gained widespread popularity and captured the attention of riders across the country. With their compact design, urban e-bikes allow riders to maneuver through crowded streets and navigate tight spaces with ease, making them a practical and convenient mode of transportation. In addition to this, the elevating levels of urbanization in the U.S. are also augmenting the growth of this segment. For instance, in 2020, about 82.66% of the total population in the United States lived in cities and urban areas. As the United States was one of the earliest nations to industrialize, it has a comparatively high rate of urbanization over the past two centuries. The urban population became larger than the rural population during the 1910s, and in the middle of the 21st century, it is expected that almost 90% of the population will live in an urban setting.

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South and West.

Several cities in the Northeast have implemented progressive transportation policies that promote cycling and alternative modes of transportation. They have implemented bike lane networks, bike-sharing programs, and infrastructure improvements that support cycling, including e-bike usage. Moreover, the West region is home to many e-bike manufacturers, distributors, and retailers. It offers diverse terrain, ranging from coastal areas to mountains and deserts, which attracts outdoor enthusiasts. Additionally, the West region, especially cities including Portland and Seattle, has a strong cycling culture with a high number of bike commuters and recreational cyclists. Furthermore, the government authorities of the US are taking initiatives to build a hi-tech infrastructure for e-bike charging, which is creating a positive outlook for the overall market. For instance, in February 2024, New York City Mayor Eric Adams, New York City Department of Transportation (DOT) Commissioner Ydanis Rodriguez, and New York City Economic Development Corporation (NYCEDC) President and CEO Andrew Kimball activated the first of five public e-battery charging locations as part of the city’s new six-month pilot program to test safe, public charging of lithium-ion batteries by an initial group of 100 delivery workers. New York City is among the first major cities in the United States to launch a public e-bike charging pilot program.

Competitive Landscape:

The key players in the market have made several innovations and advancements to meet the evolving demands of consumers and businesses. The leading United States e-bike market companies have allocated significant resources to research and development (R&D), focusing on improving battery technology, enhancing motor efficiency, and optimizing overall performance, which enables them to offer more advanced and reliable e-bike models to consumers. Moreover, companies are constantly introducing new e-bike models with innovative features to cater to different rider preferences and needs. This includes urban e-bikes, mountain e-bikes, folding e-bikes, cargo e-bikes, and more. By diversifying their product offerings, the companies aim to capture a wider customer base. Additionally, several e-bike companies have formed partnerships with other organizations to drive e-bike adoption. These collaborations often involve city governments, transportation authorities, and bike-sharing programs to integrate e-bikes into existing infrastructure and promote sustainable mobility solutions.

United States E-Bike Market Recent Developments:

• March 2024: Gazelle, the very popular Dutch bike brand owned by industry giant Pon Holdings, launched its first Class 3 electric bike in the U.S.
• February 2024: Canada-based Maui Bikes entered the U.S. market and added two new models to their lineup. The launch featured the company's popular Hera and Bronte models, having 102mm fat tires for superior comfort on various terrains.
• February 2024: New York City Mayor Eric Adams, New York City Department of Transportation (DOT) Commissioner Ydanis Rodriguez, and New York City Economic Development Corporation (NYCEDC) President and CEO Andrew Kimball activated the first of five public e-battery charging locations as part of the city's new six-month pilot program to test safe, public charging of lithium-ion batteries by an initial group of 100 delivery workers. The first charging site is being located in Cooper Square in Manhattan's East Village.

United States E-Bike Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States e-bike market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the United States e-bike market.
• The study maps the leading, as well as the fastest-growing, markets. It further enables stakeholders to identify the key country-level markets within the region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States e-bike industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.